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Judgment Search Results Home > Cases Phrase: formation of contract indian contract act Court: income tax appellate tribunal itat delhi Page 1 of about 50 results (0.170 seconds)

Jul 10 1997 (TRI)

Capital Rubber Industries Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... surmises. he also contended that according to the provisions of indian partnership act, no particular formalities were required for an agreement of partnership and that even writing was not necessary. he contended that the partnership could be formed by parole and that a contract expressed or implied was only essential to the formation of partnership and that the relation arises out of a mutual ..... date of partnership deed, i.e., 29th november, 1985, we feel that the contentions of the learned counsel deserve to be accepted having regard to the provisions of the partnership act, 1932. in view of the said position, we feel that the cost of the plot has to be taken with reference to the total amount paid to huda and that ..... evidence, the learned counsel submitted that at best the partnership firm has to be treated as genuine from 29th november, 1985, though in terms of the provisions of the partnership act, even an oral agreement between the parties is recognised for constituting a partnership and the intention and conduct of the parties is relevant to determine that a partnership has come ..... into by two or more persons, the agreement must be to share the profits of business and the business must be carried on by all or any of those persons acting for all. he held that all the said elements must be present before a group of persons who can be held to be partners of a partnership. in view of .....

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Jun 22 2005 (TRI)

Motorola Inc., Erisson Radio Vs. Deputy C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)96TTJ(Delhi)1

..... (119 stc 182). relying on this judgment, the cit (appeals) observed that the situs of sale has to be determined on a number of factors including the formation of contract and acts done under the contract. according to him the situs of sale would be the place where the property in goods passes, i.e. where written agreement transferring the right to use is ..... ", yet for the purposes of this provision of the dtaa, they were equivalent. it was submitted that all the preparatory or auxiliary services prior to the formation of the supply contract were carried out by the indian company under clause 1.1(1) to (5) of the agreement (page 146 of paper book no. 2) for which it was remunerated under the agreement ..... .8% and 16.1% by the cit (appeals), to which no objection has been taken by either side. this percentage has to be applied to the indian sales and by indian sales, we mean the total contract price for the equipment as a whole and not the bifurcated price which the assessing officer has referred to in the assessment order. this will also ..... . we have given careful thought to the submissions advanced before us by the parties. we have also examined the relevant statutory provisions of the indian income-tax act, 1922 (old act) as also of the income-tax act, 1961 (new act) to which our attention was drawn. we have also considered the case law cited before us. it is an admitted position that no time .....

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Nov 23 2007 (TRI)

British Airways Plc. Vs. Deputy Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)114TTJ(Delhi)220

..... and corpus juris secundum, pointing out that a decision which has been followed for a long period of time, and has been acted upon by persons in the formation of contracts or in the disposition of their property, or in the general conduct of affairs, or in legal procedure or in other ways ..... modulated their legal relationship based on this settled position of law.23. as explained by hon'ble allahabad high court in the case of british indian corporation ltd. v. cat , the decision of hon'ble delhi high court on a reference in one year will be binding on the tribunal ..... the matter arises afterwards might be of a different view. the learned attorney general contended that the interpretation given to section 90 of the it act, a central act, by several high courts without dissent has been universally followed; several transactions have been entered into based upon the said exposition of the law ..... question has been sought to be referred to the full bench: whether satisfaction of the officer initiating the proceedings under section 271 of the it act can be said to have been recorded even in cases where satisfaction is not recorded in specific terms but is otherwise discernible from the order ..... was arrived at merely because the penalty proceedings had been initiated. the satisfaction is to be arrived in the course of any proceedings under the act which would mean assessment proceedings and the satisfaction as envisaged by the hon'ble delhi high court in the case of ram commercial enterprises ltd. .....

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Nov 18 2005 (TRI)

Ms. Payal Kapur Vs. Asstt. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)104TTJ(Delhi)690

..... further, it has been stated that, it is not the case of the revenue that the assessee's were engaged in the business of formation, management and control of joint ventures but the stand is that through this particular joint venture agreement, jain group and gipl were conducting the the ..... in the case of tuticorin alkali chemical fertilizers ltd. reported in 227 itr 172 opined that joint venture agreement is a preliminary step for formation of business but is not a business in itself. it was further submitted that judicial pronouncements relied by ao were inapplicable and, cannot be ..... full benefit, of the specified assets of the luxor. group (and of shri d.k. jain) including all contracts, rights licenses, privileges and facilities enjoyed by the luxor group in relation to the indian market. (e) that the company -will continue to use, strengthen and enhance the luxor-and the parker brands. ..... to say that, gillette paid money to assessee in the year 2001 on account of formation of a company which it desperately wanted to exist. in so far as taxability of section 28(i) of the act, the learned cit (appeals) concluded that statutory provisions are inapplicable and, in. view thereof ..... venture agreement, it was exigible to tax. under section 28(i) of the act. it was. further held that members of jain group through the instrument of joint venture agreement, not only contributed to the formation, promotion and financing of joint venture company but also made substantial contribution on a .....

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Oct 11 1991 (TRI)

inspecting Assistant Vs. Mitsui and Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)39ITD59(Delhi)

..... and vice versa. there was some other correspondence to which its attention was not drawn and which showed that the indian branch was not only acting as a liaison office but was also negotiating and finalising sales contracts with the indian counterparts and that this activity amounted to carrying on of trading in india, took the case outside the purview of article iii ( ..... here we would like to advert to clause (iiia) of the double taxation avoidance agreement which provided that supply of information which is preparatory or auxiliary to the formation of the contract between the contracting states does not amount to having a fixed place of business, and therefore, permanent establishment. what is important to note is that supply of information must only be ..... preparatory or auxiliary to the formation of the ultimate contract. in contracts of this type which deal with the import-export policy of the country involving several public institutions, supply of information can be on a variety of points which ..... possible to draw. to repeat what all that was done by the assessee fell within the parameters of supplying of information which is preparatory to and auxiliary to the formation of the final contracts.31. we are of the opinion that the activities of the branches of the assessee company in india were within the ambit of sub -clause (iiia) of .....

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Feb 08 2008 (TRI)

Mitsui and Co. Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)114TTJ(Delhi)903

..... here we would like to advert to clause (iiia) of dtaa which provided that supply of information which is preparatory or auxiliary to the formation of the contract between the contracting states does not amount to having a fixed place of business, and therefore, pe. what is important to note is that supply of ..... that the assessee needs to forward all its documents like performance guarantee, letter of credit through its offices in india. but the contract is signed overseas independent of the indian office. 2.5 the assessee locates potential customers negotiate a deal, finalize a deal, procure the material and supply them to the ..... it was the rbi that would be more concerned with such violation and would have withdrawn the permission for these indian branches to exist in india under the foreign exchange regulation act. no such violation was ever found by the rbi even though the rbi was put in the knowledge of these ..... activities carried on by the indian branches of the assessee company by submitting the annual returns to it as per the ..... financial solutions to indian clients if they require. thus the aforesaid explains the business model ho undertakes then those undertaken by the lo in respect of a business deal. the business model of the assessee is based on the polycentric model. each of the offices located worldwide acts as a wing .....

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Nov 30 2007 (TRI)

Galileo International Inc. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... in article 5(4) is much more limited than the scope of the term under general law and submitted that section 182 of the indian contract act, 1872 ('the contract act'), defines an 'agent' to mean 'a person employed to do any act for another or to represent another in dealings with third persons'. the first limb of the definition of 'agent' (doing any ..... and 6.4 of the distribution agreement). he clarified that clause 2.2 of the distribution agreement clearly preserves interglobe's fundamental obligation under the distribution agreement notwithstanding the formation of galileo india pvt. ltd. which is dependent on interglobe alone.he further referred that in the agreement both the parties have agreed that interglobe will exclusively markets appellant ..... and that are delivered in as favourable a manner, as those it provides to any other crs, including participant's crs. participant shall provide any such data in a format and through a supplier (if a supplier is used) that are acceptable to galileo international. participant shall participate in every crs in which galileo international has a direct or ..... airlines, the appellant performs the following: o it receives all relevant information from the various participant airlines, processes this information and stores it on its database in a standard format, and has processes in place for receiving updates to this information on a continuous basis o it receives from the tas requests for information contained in the database, booking .....

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Oct 26 2007 (TRI)

Rolls Royce Plc Vs. Dy. Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113TTJ(Delhi)446

..... the exact quantum of income that has escaped assessment or even a final conclusion regarding chargeability of such income to tax under the act. a prima facie formation of an opinion would suffice. the fact that contracts were executed in india could reasonably lead to conclusion that income has accrued in india and was, therefore, chargeable to tax. all ..... . a letter was issued by appellant through mr. l.r. morgan incharge of international business addressed to prateek dabral. in the said letter, it was emphasized that indian air force should not send any request for quotation/extension to the appellant in uk directly. it was stated that all the request for quotation/extension and other correspondence ..... press comment on rolls-royce, its competitors and relevant market sector activity liaising with and reporting to the rolls-royce international affairs conference understanding and advising on the indian business, political and economic climate. identifying and advising on potential market opportunities for rolls-royce identifying and advising on potential cost saving opportunities in india creating and sustaining ..... in india, almost entire marketing activities are carried on in india. thus, there is something more than that meets the eye. a document was found called 'rolls royce and indian air force relationship' (rr-iaf relationship), another document was found tiled 'rr-iaf relationship - key players'. this reveals various actions to be undertaken by appellant rrplc through .....

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Nov 30 2007 (TRI)

Amadeus Global Travel Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113TTJ(Delhi)767

..... a pe in india, through which the activities relating to telecom network planning, negotiations relating to sale of equipment and signing of supply and installation contracts with indian customers, were carried out in india. the issue before the special bench was, as to what was the income attributable to the pe of ..... respect of the computers purchased by it and provided to the travel agents. section 148 of the indian contract act defines "bailment" as, "delivery of goods by one person to another for some purpose, upon a contract that they shall when the purpose is accomplished, be returned or otherwise disposed off according to the ..... , the same would not result in aipl being considered as 'business connection', as referred to in section 9(1)(i) of the act, since the contracts entered into by aipl only facilitate the discharging of the obligation of the appellant principal or rendering of service and does not result in earning ..... , the terms of such agreement are to be drafted by aipl so that they confirm to the applicable laws in india and no standard format of subscriber agreement is provided by the appellant to aipl as part of the distribution agreement as alleged by the dr. the specification of ..... crs. the aforesaid is only part of internal operation of the appellant in order that the request for information is received in the desired format for processing by the mainframe and onward transmission thereof to the airlines host. the airlines do not make the payment to the appellant for .....

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May 31 2007 (TRI)

Sumitomo Corporation Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)114ITD61(Delhi)

..... allowed in accordance with the domestic law of india, but such deductions shall in no case be less than what are allowable under the indian it act as effective on the date of signature of this convention.17. to determine whether the assessee has a pe in india or not one ..... well as supervision. (d) the purchase orders themselves indicate that the lo in india played an important role in negotiating, finalizing and formation of the contracts.it was also contended that the version of the assessee that the purchase orders were directly executed by the head office without the intervention ..... of present white body storage system in mul weld shop. 2. other features of the contract are the same as the first contract with the following variation: (a) supplies to include indian content also with a named indian sub-contractor;si. no. date particulars value of amount of value of instill. (a) ..... income attributable to project office.64. the revenue authorities, as already observed, have not considered as to whether there was effective connection between the contract in respect of which supervision fee is received and the pe in india, contemplated by article 12(5) of the dtaa. the revenue authorities ..... services is concerned the material on record suggests that there was no effective connection between the pe and the rendering of technical services. the contracts for the various supply, installation and supervision were entered into between the head office and mul. the involvement of the pe in the actual .....

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